Veradermics, a New Haven, CT-based clinical-stage aesthetics and dermatology-focused biopharmaceutical company, raised $75M in Series B funding.
The round was led by Suvretta Capital Management and included new investors Longitude Capital, Surveyor Capital (a Citadel company), Osage University Partners, and PhiFund. Existing investors, JW Childs Associates, Connecticut Innovations, and Vlad Coric, MD, also participated.
In connection with this financing, Amanda Birdsey-Benson, PhD from Suvretta Capital Management and Patrick Enright from Longitude Capital, will join the Veradermics Board of Directors.
The company intends to use the funds to develop lead candidate VDPHL01 for the treatment of androgenetic alopecia (AGA), or pattern hair loss (PHL), the most common cause of hair loss affecting an estimated 80 million Americans.
Led by CEOReid Waldman, Veradermics is a clinical-stage aesthetics and dermatology-focused biopharmaceutical company developing treatments for common dermatologic conditions. Its lead candidate, VDPHL01, is a non-hormonal oral therapeutic that is currently being evaluated for the treatment of AGA/PHL in both men and women. Additional pipeline programs address common dermatologic conditions including common warts and molluscum contagiosum.
